2010

Published

July 13, 2010

| Finance Committee | Automatically Archived on 8/31/2010

This Post has been archived and its content might be outdated. If you are looking for recent content, please check this Committee's Homepage.

The FinCom releases update for FY11 revenue forecast showing progression and final estimates from State regarding local aid.

FY11 Revenue Forecast -update 7/12/2010

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The Finance Committee’s primary responsibility is to make recommendations to Town Meeting on all of Sudbury’s financial matters. Most, but not all, of its efforts are geared toward budgetary matters. Throughout the year, the committee regularly interacts with town and school officials and various other committees on fiscal issues. It holds public budget hearings in January and February each year.

At Town Meetings, the Committee is required by law to present voters with a balanced non-override budget (one that does not exceed the levels of Proposition 2 1/2) and to make recommendations on all financial articles. If, in any year, the Select Board authorizes an override budget, the Committee will make a recommendation on that proposed budget. After deliberation, the Finance Committee makes its view public in the Finance Committee Report as part of the Official Town Warrant. In order for an override budget (one that exceeds the levels of Proposition 2 1/2) to be approved, it must pass in a Town-wide election and receive a majority vote at Town Meeting.

The Finance Committee meetings are public and usually held on the third Monday of the month. All meetings are at the Flynn Building and begin at 7:30pm, unless posted otherwise.

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FY11 Revenue Forecast -update 7/12/2010

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